Stem cell and regenerative medicine company Cynata Therapeutics (ASX:CYP) has made two hires that prime the company for future commercialisation and growth.
AT A GLANCE:
Suzanne Lipe and Geoff Brooke join stem cell company Cynata Therapeutics (ASX:CYP)
They bring a combined decades of industry experience
Cynata’s existing Vice President of Product Development, Dr Kilian Kelly, has also been appointed to the role of Chief Operating Officer
Cynata Therapeutics (ASX:CYP) has welcomed two biotech industry leaders in the form of Suzanne Lipe and Geoff Brooke to the company as Vice President of Alliance Management and non-executive director respectively.
Brooke has been a prominent med-tech investor through his venture capital firm GBS Ventures. and Medvest, both of which have exited multiple biotech plays.
He also brings more than 30 years’ of international experience in the life sciences sector – that will be invaluable to Cynata as it seeks to advance clinical trials and the commercialisation of its stem cell platform, Cymerus, in international markets.
Lipe has served in senior management of biotech companies, most recently as Vice President of Operations at Mesoblast – also an ASX listed stem cell biotech company.
Importantly, Lipe brings a strong network in the industry that “will be important in driving the company’s growing commercial activities.”
Brooke has been given 300,000 options exercisable at $2.11 each, expiring in May 2024 – although only 100,000 vest immediately and Lipe has been granted 375,000 options at $1.75.
Cynata’s current share price at the time of writing was $1.20 – pricing the options at a significant premium.
Cynata managing director Ross McDonald was delighted to welcome them to the business and said the new appointments strengthen the company at the executive and non-executive levels.
“I am confident that Geoff and Suzanne will make many positive contributions to Cynata’s progress,” he said.
The latest from Cynata Therapeutics
About Cynata Therapeutics
Cynata Therapeutics Limited (ASX: CYP) is an Australian clinical stage stem cell and regenerative medicine company that is developing a therapeutic stem cell platform technology, Cymerus™, originating from the University of Wisconsin-Madison, a world leader in stem cell research.
The proprietary Cymerus™ technology addresses a critical shortcoming in existing methods of production of mesenchymal stem cells (MSCs) for therapeutic use, which is the ability to achieve economic manufacture at commercial scale.
The ability to manufacture at commercial scale means that it can be used ‘off the shelf’, while traditional stem cell therapy is limited by the number of donors available.
This has the potential to create a new standard in the emergent arena of stem cell therapeutics and provides both a unique differentiator and an important competitive position.
This content was produced by Star Investing in commercial partnership with Cynata Therapeutics. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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